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This excerpt taken from the WYN 10-K filed Feb 27, 2009. Interest
Rate Risk
The debt used to finance much of the Company’s operations
is also exposed to interest rate fluctuations. The Company uses
various hedging strategies and derivative financial instruments
to create a desired mix of fixed and floating rate assets and
liabilities. Derivative instruments currently used in these
hedging strategies include swaps and interest rate caps.
The derivatives used to manage the risk associated with the
Company’s floating rate debt include freestanding
derivatives and derivatives designated as cash flow hedges. In
connection with its qualifying cash flow hedges, the Company
recorded a net pre-tax loss of $38 million,
$22 million and $13 million during 2008, 2007 and
2006, respectively, to other comprehensive income. The pre-tax
amount of gains or losses reclassified from other comprehensive
income to earnings resulting from ineffectiveness or from
excluding a component of the derivatives’ gain or loss from
the effectiveness calculation for cash flow hedges was
insignificant during 2008, 2007 and 2006. The amount of gains or
losses that the Company expects to reclassify from other
comprehensive income to earnings during the next 12 months
is not material. These freestanding derivatives had a nominal
impact on the Company’s results of operations in 2008, 2007
and 2006.
This excerpt taken from the WYN 10-K filed Feb 29, 2008. Interest
Rate Risk
The debt used to finance much of the Company’s operations
is also exposed to interest rate fluctuations. The Company uses
various hedging strategies and derivative financial instruments
to create a desired mix of fixed and floating rate assets and
liabilities. Derivative instruments currently used in these
hedging strategies include swaps and interest rate caps.
The derivatives used to manage the risk associated with the
Company’s floating rate debt include freestanding
derivatives and derivatives designated as cash flow hedges. In
connection with its qualifying cash flow hedges, the Company
recorded a net pre-tax loss of $22 million during 2007, a
net pre-tax loss of $13 million during 2006 and a net
pre-tax gain of $5 million during 2005 to other
comprehensive income. The pre-tax amount of gains reclassified
from other comprehensive income to earnings resulting from
ineffectiveness or from excluding a component of the
derivatives’ gain or loss from the effectiveness
calculation for cash flow hedges was insignificant during both
2007 and 2006 and $5 million during 2005. The amount of
losses that the Company expects to reclassify from other
comprehensive income to earnings during the next 12 months
is not material. These freestanding derivatives had a nominal
impact on the Company’s results of operations in 2007, 2006
and 2005.
This excerpt taken from the WYN 10-K filed Mar 7, 2007. Interest
Rate Risk
The debt used to finance much of the Company’s operations
is also exposed to interest rate fluctuations. The Company uses
various hedging strategies and derivative financial instruments
to create a desired mix of fixed and
Table of Contents
floating rate assets and liabilities. Derivative instruments
currently used in these hedging strategies include swaps and
interest rate caps.
The derivatives used to manage the risk associated with the
Company’s floating rate debt include freestanding
derivatives and derivatives designated as cash flow hedges. In
connection with its qualifying cash flow hedges, the Company
recorded net a pre-tax loss of $13 million during 2006 and
net pre-tax gains of $5 million and $2 million during
2005 and 2004, respectively, to other comprehensive income. The
pre-tax amount of gains reclassified from other comprehensive
income to earnings resulting from ineffectiveness or from
excluding a component of the derivatives’ gain or loss from
the effectiveness calculation for cash flow hedges was
insignificant during 2006, $5 million during 2005 and
insignificant during 2004. The amount of losses the Company
expects to reclassify from other comprehensive income to
earnings during the next 12 months is not material. These
freestanding derivatives had a nominal impact on the
Company’s results of operations in 2006, 2005 and 2004.
This excerpt taken from the WYN 8-K filed Jul 19, 2006. Interest Rate Risk The debt used to finance much of the Company’s operations is also exposed to interest rate fluctuations. The Company uses various hedging strategies and derivative financial instruments to create a desired mix of fixed and floating rate assets and liabilities. Derivative instruments currently used in these hedging strategies include swaps and interest rate caps. The derivatives used to manage the risk associated with the Company’s floating rate debt include freestanding derivatives and derivatives designated as cash flow hedges. In connection with its qualifying cash flow hedges, the Company recorded net pre-tax gains of $5 million and $2 million during 2005 and 2004, respectively, to other comprehensive income. Such amounts were insignificant in 2003. The pre-tax amount of gains reclassified from other comprehensive income to earnings resulting from ineffectiveness or from excluding a component of the derivatives’ gain or loss from the effectiveness calculation for cash flow hedges was $5 million during 2005. Such gains or losses were insignificant in 2004 and 2003. The amount of losses the Company expects to reclassify from other comprehensive income to earnings during the next 12 months is not material. These freestanding derivatives had a nominal impact on the Company’s results of operations in 2005, 2004 and 2003. | EXCERPTS ON THIS PAGE:
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